(Reuters) - Freddie Mac (FMCC.OB), the second-largest provider of funding for U.S. home mortgages, will raise some fees on loans it finances, a sign that it sees greater risks even for borrowers making regular payments. The company, struggling to recover from the worst housing slump since the 1930s, will raise some so-called "delivery fees" in March to cover increased risks on loans covering large portions of a property's value, according to a bulletin dated Monday on its website.

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(Reuters) - A senior U.S. Treasury Department official said on Tuesday there has been a significant breakdown in the process by which banks foreclose on homes and said regulators were looking at it closely. Michael Barr, Treasury's assistant secretary for financial institutions, told the Financial Stability Oversight Council there have been "widespread, inexcusable breakdowns in the foreclosure process" and said regulators were working with states and banking regulators to review the situation.

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(Reuters) - Sales of previously owned homes fell more than expected in October, possibly due to delayed foreclosures and overly strict lending standards, the National Association of Realtors said on Tuesday. Sales fell 2.2 percent to a seasonally adjusted annual unit rate of 4.43 million units from September's 4.53 million unit pace, the group said. Economists polled by Reuters had expected existing home sales to fall to a 4.49 million unit pace in October. U.S. stocks added to losses after the data.

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(Reuters) - The U.S. economy grew faster than previously estimated in the third quarter, government data showed on Tuesday, but still not enough to address stubbornly high unemployment. Gross domestic product growth was revised up to an annualized rate of 2.5 percent from 2.0 percent as exports, and consumer and government spending were stronger than initially thought, the Commerce Department said in its second estimate.

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(Reuters) - U.S. bank industry earnings fell by almost $7 billion in the third quarter but were far better than a year ago as the industry continues to recover from the financial crisis. The Federal Deposit Insurance Corp announced on Tuesday that net income for the banking industry was $14.5 billion for the third quarter, which compares to $21.4 billion in the second quarter and $2 billion in the third quarter of 2009.

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(Reuters) - Hormel Foods Corp (HRL.N) reported a higher-than-expected quarterly profit, helped by strong sales for products like its Spam lunchmeat, while Campbell Soup Co's (CPB.N) results fell short as deep promotions failed to lure shoppers. Hormel and Campbell both make easy-to-prepare meals like canned soups and stews, which analysts say are popular in tough economic times as people dine out less.

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(Reuters) - Shares of U.S. fashion retailer J Crew Group Inc (JCG.N) jumped 16.9 percent before being halted on Tuesday, pushing above the price said being offered by private equity investors in a buyout bid. On Monday, sources familiar with the deal said J Crew was close to an agreement to be acquired for $43.50 a share, or roughly $2.8 billion, by TPG Capital Group and Leonard Green & Partners.

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(Reuters) - BlackBerry maker Research in Motion is confident there will be no ban in India on its services, a senior RIM executive said on Tuesday. "There is no ban on BlackBerry, we are confident that there will be no ban in the future," Robert Crow, a vice president at RIM, told reporters in New Delhi.

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(Reuters) - The European Union urged Ireland on Tuesday to adopt an austerity budget on time to unlock promised EU/IMF funding, responding to a deepening political crisis that threatens to derail the financial rescue. Dublin's government is on a knife-edge. Damaged Prime Minister Brian Cowen has rebuffed calls for a snap election and insisted the budget would go ahead as planned on December 7 in the national interest before he calls an early poll.

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(Reuters) - Private equity firm Blackstone Group (BX.N) lost its $602 million bid to buy power producer Dynegy Inc (DYN.N) after failing to win shareholder support in the face of opposition from the two largest shareholders. Dynegy said it planned to end the deal later on Tuesday and would look for other buyers, including the two shareholders -- billionaire Carl Icahn and hedge fund Seneca Capital. Icahn has said he may bid for Dynegy if the Blackstone bid failed.

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